Update on Ventilator Delivery to the NHS

RNS Number : 6281W

Inspiration Healthcare Group PLC

20 August 2020

 

Inspiration Healthcare Group plc

 ("Inspiration Healthcare", the "Company" or the "Group")

Update on Ventilator Delivery to the NHS

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company  is pleased to provide a further update on the status for the delivery of ventilators as the UK National Health Service demand for Covid ventilators likely diminishes, the Group continues to satisfy the orders received from the UK National Health Service  announced  on the 16^th and 20^thMarch 2020 with a value totalling approximately £5 million. In the last few days the Company delivered a further £1million of the orders, taking the total amount delivered under these contracts to £3 million. 

On the 11^th August 2020, the Company gave an update on trading stating that underlying revenues (ie prior to any contribution from S.L.E. or Covid opportunities) for the Group in the first six months were running 30% ahead of last year, with a healthy order book in place. This strong performance continues and, in addition, the recently acquired S.L.E. has, in the last few days, also delivered over £0.5 million of ventilators to the NHS as part of a separate order they had received. The integration of S.L.E. into the Group is progressing according to plan and is providing the significant short and long term commercial synergies expected by management.

Neil Campbell, Chief Executive Officer, commented, "We have continued to work tirelessly  with our partners to get the ventilators into the UK and delivered to the NHS. At the same time, I'm pleased to report that the Company is trading well across all its operations and we are working well with our colleagues at S.L.E. to integrate the two businesses and also at Viomedex, which means that we remain optimistic of our continued progress for this financial year and beyond."

Enquiries:

Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Jon Ballard, Chief Financial Officer	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Mark Connelly Stephen Keys Cameron MacRitchie	Tel: [phone]
Cadogan PR  Alex Walters [e-mail]	Tel: [phone]

About Inspiration Healthcare   http://www.inspiration-healthcare.com

Inspiration Healthcare (AIM: IHC) is a global provider of medical technology for use in critical care & operating theatres. The Company provides high quality innovative products to patients around the world which help to improve patient outcomes and it actively invests in innovative product opportunities and disruptive technologies.

Through investment in research and development the Company has 6 key own brand products that can be used within the first 6 hours of life to help premature and sick babies; helping with assessment, resuscitation, stabilisation as well as preventing brain damage. Additionally the Company has its own range of products for maintaining normothermia pre- during and post-surgery.

In September 2019, the Company acquired   Vio Holdings a designer, manufacturer and supplier of single use respiratory products and sterile medical consumables   for £4 million and in   June 2020 the Company acquired S.L.E., a   leading global provider of neonatal ventilation products for   £18 million.       Over 90 per cent. of S.L.E.'s revenues are generated from sales outside of the UK with a significant proportion of these  in Asia Pacific and the Middle East. When combined, the Group generates approximately 60 per cent. of its revenue from exports.

With product availability extending to over 50 countries through a distribution network, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving patient outcomes, working in close collaboration with key opinion leaders across the globe.

In the UK and Ireland the Company has a direct sales team selling Inspiration Healthcare Branded and complementary products from third parties, with an additional range of home healthcare products.  This is supported by Technical Support for planned preventative maintenance and emergency assistance.

Further information on Inspiration Healthcare can be seen at   www.inspiration-healthcare.com

 

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